Guideline Value for Thangam Nagar-II

Thangam Nagar-II guideline value

The current guideline value of Thangam Nagar-II is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village, under the Sriperumpudur Sub Registrar Office (SRO) jurisdiction. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thangam Nagar-II has changed

Over the years, the guideline value of Thangam Nagar-II has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision marked a significant change, reducing the value to Rs 167 per sq.ft, which was a decrease of 33% from the 2012 figure. The 2024 revision reinstated the value to Rs 250 per sq.ft, showing no change from the previous year, 2023.

From 2017 to 2023, the guideline value increased by 50%. Overall, from the 2012 revision to the current 2024 revision, there has been no net change in the guideline value. It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Thangam Nagar-II's 2024 guideline value of Rs 250 per sq.ft is below this median.

• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 300 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)
• Suganthi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Nagar-II

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangam Nagar-II?

The Sub Registrar Office that covers Thangam Nagar-II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Somangalam

The guideline value is an essential factor in the registration process when buying or selling property in Somangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, they must provide the guideline value to calculate the applicable stamp duty and registration fees. This value serves as a benchmark for transactions, ensuring transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Thangam Nagar-II?

The current guideline value of Thangam Nagar-II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024, while it dropped to Rs 167 per sq.ft in 2017. The overall change from 2012 to 2024 is a 0% change.

What are the stamp duty and registration fees for property in Thangam Nagar-II?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registrations in Thangam Nagar-II?

The Sriperumpudur Sub Registrar Office handles property registrations for Thangam Nagar-II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value determined for properties in Somangalam?

The guideline value is determined based on various factors, including the location and classification of the land. It is periodically revised to reflect changes in the market and is used to calculate stamp duty and registration fees during property transactions.